What is GDP And Current Situation Of India’s GDP

What is GDP And Current Situation Of India’s GDP

India's GDP & Why India's GDP Is Declining Continuously

What is GDP ?

Gross Domestic Product, It is the full form of GDP as we all know. Basically It is the monetary measurement of the market value of the final Goods and services which is provided by the Government Of India. GDP is not the only measurement of the market. There is many other measurement for it that we all have know. So keep reading are article we will discuss all the factors which is important for the India’s GDP.

Why India’s GDP is Declining ?

It is important to know why the India’s GDP is gowning down there is so many factors behind it such as America & China Trade war, world’s GDP Growth rate but it all are not the only causes behind, GST implementation it is also the one of the cause behind it. Firstly Government of india Implemented demonetization.After this goverment put a another move which is GST. These two are the major factors behind the india’s GDP declination.

Why India’s GDP Grew 5% in the first quarter of FY20 ?

India is one of the fastest gowning nation in the world. This is all we know but in the first quarter of the FY20 India’s Gross Domestic Product is declining with the growth rate of 5%. It is the figure which is introduce by the government of india but actually growth is different from it. It is the statement of World Bank and as the statement made by the International Monetary Fund. The major important factor for this Economy crises that is the Automobile sector which is continuously facing a financial deficit.

Now India’s Current Position in the Economy

GDP Index Country GDP In USD Trillion
1 USA 21.5
2 China 14.2
3 Japan 5.2
4 Jermany 4.2
5 UK 2.935
6 India 2.934
7 France 2.16

How To Boost India’s GDP 

  • Government should take some important actions to boost india’s GDP such as they should cut the EMI rates in the automobile sector.
  • Government Should invest more money in the housing finance sector.
  • They must create more job opportunities in the private sector as well as government sector.
  • Government must decrease the GST rates.
  • And the last but not the least government should promote automobile sector to increase the sell to boost the indian economy.

Conclusion 

India’s GDP is under the disasters finance crises. Government should take some important and courageous steps to increase India’s GDP Growth Rate. Interested readers can also check the full article which is publish by the IMF and World Bank and the article link is given below.

Important Link

World Bank Report On India’s GDP : Click Here

International Monetary Fund Report On India’s GDP : Click Here

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